A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2% higher rate, it would… · ABC26GN3994
Subject: General Aptitude · Chapter: Simple Interest
A sum was put at simple interest at a certain rate for 3 years. Had it been put at 2\% higher rate, it would have fetched ₹ 360 more. Find the sum.
Answer
No answer key was printed for this question.
Explanation
Let sum $=P$ and original rate $=R$. Then, $\left[\frac{P \times(R+2) \times 3}{100}\right]-\left[\frac{P \times R \times 3}{100}\right]=360$ $$\Leftrightarrow \quad 3 P R+6 P-3 P R=36000 \Leftrightarrow 6 P=36000 \Leftrightarrow P=6000 \text {. }$$ Hence, sum $=₹ 6000$.
Explanation as extracted from the printed page; notation may be imperfect.